About: Eurogroup
German plan brings ‘new impetus’ to banking union, Eurogroup says
Finance ministers on Thursday (7 November) welcomed a German initiative to unblock proposals for a common bank deposit guarantee scheme in the eurozone, but questioned Berlin's request to ask additional capital buffers in return for banks holding sovereign debt.
Eurozone sharpens up new anti-shock fund
Finance ministers of the 19-member euro area reached agreement late on Wednesday (9 October) on the details of a "budgetary instrument" for the eurozone, including stronger measures to support countries hit by a sudden economic shock.
Growing pressure on eurozone economies to launch stimulus
The European Commission and some member states including France followed the ECB in pressing Germany and other countries with fiscal space to invest more to counter the risk of recession.
Europeans tell Germany to spend more to boost euro economy
European ministers and institutions told Germany on Monday (8 July) to increase public spending in order to support the ailing growth in the eurozone, as decision-makers and investors see a growing risk of recession looming on the horizon.
Stabilisation mechanism in induced coma after EU leaders’ meeting
EU leaders failed to inject further ambition to a Eurogroup deal on watered-down reforms of the Economic and Monetary Union, including a budgetary instrument for the eurozone, at the Euro summit on Friday (21 June).
No agreement on euro budgetary tool- ministers send ‘hot potato’ back to leaders
EU finance ministers failed to reach an agreement in the early hours of Friday (14 June) on an anti-shock instrument to shield the euro, as they continued to clash over almost every feature on the agenda, including the source of funding.
Finance ministers press Italy to stick to EU fiscal rules
EU finance ministers told the Italian government on Thursday (13 June) to meet its fiscal obligations in order to reduce its high debt, with the European Commission insisting on “substantial corrections” to rein in public spending.
Eurogroup to nudge forward EMU reform before next week’s EU summit
EU finance ministers will try to close a deal on deepening the Economic and Monetary Union, including a tentative new budget for the eurozone, during the Eurogroup meeting on Thursday (13 June) in an inclusive format.
Growing concerns over Greece and Italy, as negotiations stall on eurozone budget
Latest Greece and Italy’s fiscal plans raised concerns in Brussels, as the Eurogroup met for another round of negotiations on the budgetary instrument for the Eurozone on Thursday (16 May), without major achievements.
Greece gets €1 billion in return for reform progress
The eurozone finance ministers approved on Friday (5 April) the disbursement of €970 million to Greece, following the country's successful implementation of outstanding measures agreed as part of its post-bailout monitoring.
Eurozone delays Greece debt relief over household insolvency law
Eurozone ministers on Monday (11 March) held back granting Greece debt relief because the government failed to implement reforms promised during the massive bailout that ended last year, officials said.
Eurogroup keeps anti-shock capacity for eurozone budget off the table
Eurogroup president Mario Centeno said late on Monday (11 March) that the future eurozone budget would not include a stabilisation function, despite insistance by France and a handful of other countries to broaden its scope.
Eurogroup kick off race for ECB chief economist, Ireland’s Lane puts name forward
Ireland presented Philip Lane’s candidacy as chief economist at the European Central Bank on Monday (21 January), as the Eurogroup opened calls for nominations in a relaxed first session of the year.
EU reaches limited agreement to bolster economic and monetary union
EU finance ministers concluded a deal on Tuesday (4 December) to bolster the region with new tools to save ailing banks and member states but postponed Europe-wide instruments to protect depositors or stabilise national economies.
EU finance ministers struggle for eurozone reform deal
EU finance ministers struggled to agree reforms to better fight against a financial crisis early Tuesday (4 December), with negotiators still at the table after more than 12 hours of talks.
Italy’s revised budget ‘did not dispel concerns’, Eurogroup president says
Italy’s slightly modified budget might not get the green light from the European Commission, the president of the Eurogroup, Mario Centeno, told the Parliament’s Economic and Monetary Affairs Committee on Tuesday (20 November), raising the likelihood of an excessive deficit...
Ministers press Italy to respect common rules in budgetary spat
Eurozone finance ministers and the European Commission called on the Italian government on Monday (1 October) to respect the EU’s fiscal rules, saying the “non-compliant” budgetary plan announced by the third largest eurozone economy could destabilise the region.
Commitments have to be respected, EU tells Greece
Greece will now be “a normal country” but the reforms and the ambitious fiscal targets agreed with its lenders must be respected, the Commissioner for economic affairs, Pierre Moscovici, said on Monday, the day the Hellenic nation exited its bailout programme.
Germany poses ‘real problem’ when protecting bank savers with European guarantee, says official
A senior EU official said on Tuesday (10 July) that an agreement on a European Deposit Insurance Scheme (EDIS) to protect savers across the bloc would be “very hard” given Berlin’s opposition.
Eurogroup reaches ‘historic’ deal on debt relief for Greece
In the early hours of Friday (22 June), the Eurogroup reached an “historic” deal on a debt relief for Greece, solving the last political hurdle to conclude its rescue programme after more than eight years.
Spain pledges to ‘square the circle’ on public finances in Eurogroup debut
Spain's new Socialist government said on Thursday (21 June) it had “no reasons” to believe that it would miss its deficit target, despite a planned increase to pensioners’ benefits being questioned by the EU institutions.
Eurozone to decide terms of Greek bailout exit, debt relief in June
Eurozone finance ministers will decide next month on all measures, including further debt relief, needed for Greece to exit its bailout successfully, their chairman said on Thursday (24 May).
Troika calls for ‘strong’ debt relief for Greece
The European Central Bank has joined the IMF and European Commission’s demand for “strong” and “credible” measures to alleviate Greece’s soaring public debt (around 178% of GDP) once the country exits its rescue programme on 20 August.